omniture

Cushman & Wakefield: Hospitality Sector Remains Relatively Active with Steadfast Business and Investment in Asia Pacific

Cushman & Wakefield
2012-12-28 18:05 3109

HONG KONG, Dec. 28, 2012 /PRNewswire/ -- According to the recently released report, Hotel Views 2013, by the world's largest privately owned real estate services firm, Cushman & Wakefield, the Asia Pacific hotel sector is a beneficiary of the region's steady economic development.

Akshay Kulkarni, Regional Director for Hospitality in South & Southeast Asia for Cushman & Wakefield states: "The hospitality sector is likely to remain active with business and investments over the next five years. Substantial inventory will be introduced in various micro markets in the region; intensified competition from both local and international brands will be inevitable and the region will evolve to be more diverse than it is today."

As the region's dependency on western economies has been reducing over time with expanding regional demand and South-South trade, Southeast Asia emerged as the fastest growing sub-region in the Asia Pacific tourism industry with 15% increase in international arrivals over the previous year. 

Additionally, a few hotel groups have started focusing their business development efforts on China and India; the rapid economic growth in these two nations being directly proportional to the surge of outbound tourists.

Tokyo, Bangkok and Phuket also saw significant growth in tourist arrivals in 2012 whilst Seoul reported a slight dip in 2012 as compared to the previous year.

This latest edition of Hotel Views brings forth information from the top performing markets, as well as activity in newer markets, such as Bali, Dhaka, Hanoi, Kuala Lumpur, Macau, Male, Phuket and Yangon.  To read more about these markets in our Hotel Views 2012, please visit our Knowledge Centre at: www.cushmanwakefield.com.

About Cushman & Wakefield

Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and more than 14,000 employees.  It offers a complete range of services for all property types, fully-integrated on a global basis, including leasing, sales and acquisitions, debt and equity financing, investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management.  A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge. In China, Cushman & Wakefield maintains six market-leading offices in Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen and Hong Kong. More information is available at www.cushmanwakefield.com.

Source: Cushman & Wakefield
collection